Mortgage rates were on the rise in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.22% as of Nov. 6, up from last week when it averaged 6.17%. A year ago at this time, it averaged 6.79%. The...
Commercial and multifamily mortgage loan originations during the third quarter were up by 18% from the previous quarter and up 36% year-over-year, according to data from the Mortgage Bankers Association (MBA). Originations for office, retail, hotel, and multifamily...
During August, 7.3% of mortgaged homebuyers used a VA loan, up from 6.5% one year earlier, according to a data report from Redfin. This marked the highest share for that month since 2019. Nationwide, the number of VA loans rose 3% year-over-year in August, while the...
Mortgage application activity declined during the week ending Oct. 31, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 1.9% on a seasonally adjusted basis from...
The Atlanta-based fintech Knock has unveiled Knock Bridge Loan Plus, a new product designed to pay off a homeowner’s existing mortgage upfront. According to the company, the product can pay off the homeowner’s current mortgage and release the equity locked up in their...
NewDay USA has rolled out NewDay Home, a product designed to help veterans and servicemembers achieve homeownership. According to the West Palm Beach, Florida-based company, NewDay Home enables qualifying borrowers to secure a fully underwritten, credit- and...
